The New York Times (NYT) said companies are making substantial contributions and expressing support for Trump’s policies.
In the two months following last year’s presidential election victory, more than $200 million has been raised for Trump’s inauguration and presidential library projects. Inauguration donations alone have surpassed $150 million, exceeding the costs of his first inauguration in the past.
The political fundraising group MAGA has also experienced a sharp increase in donations. Major contributors include Pfizer, Amazon, OpenAI, Meta, and cryptocurrency firms.
Recently, several companies, including Ford Motor Company, Toyota, and the Pharmaceutical Research and Manufacturers of America (PhRMA), donated $1 million each. Bank of America, Goldman Sachs Group, Inc., and AT&T are donors. Critics argue that these contributions may be attempts to curry favor with the incoming administration.
Trump has actively courted the cryptocurrency industry, which has joined the donation drive. The publisher of Ripple donated $5 million in its virtual currency, while Robinhood donated $2 million.
Lobbyist David Tamasi explained that companies largely absent during Trump’s previous term now engage more actively, indicating a growing eagerness to connect with Trump for various reasons. Analysts suggest this political maneuvering reflects expectations about Trump’s policy direction.
Additionally, Trump’s pledge to expand business through cryptocurrency deregulation has attracted interest from companies in the cryptocurrency industry.
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